Cash flow generation appears compromised, highlighted by a $273.1 million dividend payout during a quarter where the firm reported a $870 million net loss.
Yiren Digital Ltd. (YRD) cash flow statement — 13-year operating, investing & financing cash flows
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|
| Cash from Operations | -1.87B | 703.62M | 1.42B | 2.17B | 1.85B | 158.19M | 282.03M | 274.17M | -3.96B | 184.07M | 2.11B | 861.28M | -227.04M | -68.25M |
| Operating CF Growth % | -1211.88% | -50.59% | -34.4% | 17.39% | 1069.1% | -43.91% | 2.87% | 106.92% | -2250.84% | -91.29% | 145.38% | 479.35% | -232.65% | - |
| Net Income | -1.49B | 54.53M | 1.58B | 2.08B | 1.19B | 1.03B | -692.75M | 1.16B | 1.58B | -188.07M | 1.12B | 275.34M | -27.71M | -50.5M |
| Depreciation & Amortization | 15.29M | 30.59M | 28.29M | 25.44M | 52.83M | 139.95M | 327.46M | 394.61M | 147.99M | 140.92M | 10.61M | 3.63M | 1.14M | 435.89K |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 1.94B | 3.2B | 1.28B | 410.5M | 113.07M | 463.16M | 785.34M | 1.21B | 1.13B | -143.47M | -184.75M | -43.39M | 0 | 0 |
| Working Capital Changes | -2.61B | -2.61B | -1.49B | -351.87M | 466.52M | -1.5B | -152.2M | -2.53B | -6.93B | 249.12M | 1.15B | 625.7M | -200.47M | -18.19M |
| Cash from Investing | -249.12M | -1.58B | -3.11B | 100.05M | 52.56M | -346.51M | -1.8B | 1.11B | 3.3B | -1.17B | -1.42B | -282.59M | -3.58M | -744.64K |
| Purchase of Investments | -820.67M | -820.67M | -12.85B | 0 | 0 | 0 | 0 | 0 | 0 | -3.96B | 0 | 0 | 0 | 0 |
| Sale/Maturity of Investments | 284.23M | 284.23M | 10.58B | 0 | 0 | 0 | 0 | 0 | 0 | 4.22B | 0 | 0 | 0 | 0 |
| Net Investment Activity | -536.45M | -536.45M | -2.27B | 0 | 0 | 0 | 0 | 0 | 0 | 261.69M | 0 | 0 | 0 | 0 |
| Acquisitions | 6.41M | 6.41M | 820K | -5.05M | 0 | 0 | -15.17M | -263.82M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | 306.66M | -1.02B | -837.76M | 109.54M | 53.44M | -337.1M | -1.77B | 1.42B | 3.44B | -1.21B | -1.39B | -266.19M | 0 | 0 |
| Cash from Financing | -519.91M | 662.6M | -277.23M | -569.28M | -489.12M | 427.45M | 955.45M | -1.15B | -788.02M | 2.64B | 135.3M | 749.92M | 232M | 69M |
| Dividends Paid | -273.13M | -273.13M | -122.33M | 0 | 0 | 0 | 0 | 0 | -106.63M | -605.24M | 0 | 0 | 0 | 0 |
| Share Repurchases | -223K | -223K | -75.61M | -48.12M | -3.84M | -2.75M | -3.05M | -36.84M | -254K | 0 | 0 | 0 | 0 | 0 |
| Stock Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Stock Activity | -223K | -223K | -75.61M | -48.12M | -3.84M | -2.75M | -3.05M | -36.84M | -254K | 0 | 0 | 0 | 0 | 0 |
| Debt Issuance (Net) | -1000K | -1000K | -1000K | -1000K | -1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 0 | 0 | 0 | 0 |
| Other Financing | 102.24M | 1.28B | 212.5M | 246.74M | -267.59M | -97.9M | 476.59M | -909.03M | -853.56M | 483.23M | 135.3M | 749.92M | 232M | 69M |
| Net Change in Cash | -2.67B | -230.72M | -1.96B | 1.7B | 1.42B | 238.19M | -561.99M | 234.66M | -1.45B | 1.64B | 856.43M | 1.33B | 1.38M | 0 |
| Exchange Rate Effect | -31.73M | -20.78M | 9.21M | -3.87M | 2.49M | -936K | -2.81M | 193K | 3.63M | -16.11M | 29.36M | 101K | 0 | 0 |
| Cash at Beginning | 2.84B | 4.1B | 6.06B | 4.36B | 2.95B | 2.71B | 3.27B | 3.03B | 4.48B | 2.84B | 1.33B | 1.38M | 0 | 0 |
| Cash at End | 1.78B | 3.87B | 4.1B | 6.06B | 4.36B | 2.95B | 2.71B | 3.27B | 3.03B | 4.48B | 2.19B | 1.33B | 1.38M | 0 |
| Interest Paid | 190K | 190K | 0 | 62.53M | 121.7M | 85.26M | 1.64M | 11.42M | 15.39M | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 264.38M | 264.38M | 140.09M | 165.18M | 78.87M | 63.31M | 103.73M | 178.11M | 334.1M | 302.19M | 65.89M | 98.94M | 0 | 0 |
| Free Cash Flow | -1.9B | 677.88M | 1.41B | 2.17B | 1.85B | 148.79M | 268.31M | 226.16M | -4.1B | -33.88M | 2.08B | 844.88M | -230.62M | -69M |
| FCF Growth % | -313.14% | -52.09% | -34.69% | 17.2% | 1142.4% | -44.55% | 18.63% | 105.52% | -11999.58% | -101.63% | 146.6% | 466.35% | -234.24% | - |
Quick answers to the most common questions about buying YRD stock.
Yiren Digital Ltd. (YRD) generated $703.6M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Yiren Digital Ltd. (YRD) generated $677.9M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Yiren Digital Ltd. (YRD) spent $25.7M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Yiren Digital Ltd. (YRD) returned $273.1M to shareholders via cash dividends and spent $0.2M on share repurchases. This shows the company's commitment to returning capital to its equity investors.
Key Metrics
Top Statement Risk
Regulatory and Credit Volatility
Earnings Retention and Capital Erosion
As reported in recent financial filings, YRD's net income swung to a negative $870.0 million in 2025Q4, marking a severe departure from previous quarters and suggesting that the firm's ability to generate organic capital has been entirely neutralized by recent operational and non-operating charges.
The dramatic shift from positive earnings to a substantial loss indicates that the company's internal capital generation capacity is currently non-existent. Investors should monitor whether this volatility is a structural impairment of the business model or a temporary accounting adjustment related to credit risk provisioning.
Securities Portfolio Liquidity Shifts
Based on the 2025Q4 cash flow statement, YRD engaged in significant investment activity, purchasing $820.7 million in securities while selling $284.2 million, which suggests a strategic reallocation of liquidity that warrants further investigation into the underlying duration and credit quality of these new holdings.
The net outflow for investment purchases implies that the firm is actively deploying its cash reserves into financial assets rather than returning capital to shareholders. This behavior may indicate a defensive posture or a search for yield in a challenging domestic interest rate environment.
Escalating Credit Risk Provisioning
According to the company's reported figures, provision expenses reached $256.8 million in 2025Q4, representing a significant escalation from the $184.7 million recorded in 2023Q4, which suggests that the firm is grappling with deteriorating asset quality within its legacy loan facilitation portfolio.
The persistent rise in provisions relative to historical levels indicates that the company's credit risk models are under stress. This trend appears to be a primary driver of the recent cash flow volatility and suggests that future earnings may remain pressured by ongoing credit loss realizations.
Dividend Sustainability Under Pressure
As evidenced by the 2025Q4 cash flow statement, YRD paid out $273.1 million in dividends despite reporting a net loss, a move that appears inconsistent with long-term capital preservation and warrants intense scrutiny regarding the sustainability of such distributions in a period of negative earnings.
The decision to pay dividends while the core business is experiencing significant margin compression and net losses may be an attempt to signal stability to shareholders. However, this capital allocation strategy appears to be depleting the firm's liquidity buffer at a time when credit risks are rising.